CHAU vs UYG

CHAUDDirexion Daily CSI 300 China A Share Bull 2X Shares

UYGAProShares Ultra Financials

In short

CHAU Most leveraged funds point at US indexes. CHAU aims a 2x daily dial at the CSI 300, the blue-chip gauge of mainland China's A-share market, and has since 2015. Built for one trading day at a time.

UYG Listed in January 2007, a year before the banking crash, UYG targets 2x the daily move of the financial stocks in the S&P 500. A veteran of the leveraged shelf, priced at 0.93% with no fee waiver propping that number up.

Stated mandate

CHAU The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of the CSI 300 Index. Its objective applies to a single day rather than to longer cumulative periods.

UYG UYG seeks pre-expense daily results equal to 2x the daily performance of the S&P Financial Select Sector Index. It is designed to provide magnified financials-sector exposure on a daily basis.

Why people hold it

• CHAU Geared exposure to the CSI 300, the blue-chip benchmark of mainland China's Shanghai and Shenzhen A-shares, in a US-listed wrapper you trade like any stock.direxion.com
• The stated aim is 200% of the index's daily move, half the gearing of the 3x names that dominate the leveraged shelf (FAS, UDOW).
• Live since 2015, a decade-plus run for a single-country leveraged product.

• UYG One of the originals: on the tape since January 30, 2007, still running the same mandate of 2x the daily performance of the S&P Financial Select Sector Index.proshares.com
• At 0.93% with no waiver doing the work, it sits near the median fee of its leveraged peer group and level with sibling ROM (0.93%). QLD is 0.89%, but net of a waiver through September 30, 2027.
• The whole sector in one ticker: banks, insurers and capital-markets firms from the S&P 500, roughly 80 names, geared daily.proshares.com
• Stands in the top tier of the leveraged bull funds we grade, a group of close to a hundred tickers.

Worth knowing

• CHAU The 2x target applies to a single day, not to a month or a year. Hold longer and compounding plus volatility steer results away from twice the index's move.
• The 1.19% expense ratio runs above the typical fund in the leveraged group, and the gap weighs more the longer a position sits.
• One country, one index, doubled: concentration and leverage stack. It trades moderately rather than heavily, so execution costs deserve attention.

• UYG The 2x target is a one-day target and resets each day. Over longer holds the result comes from compounding daily moves, and in choppy markets that can land well off twice the index's return for the period.proshares.com
• One sector, doubled. Financials move with rates, credit conditions and deal flow, and UYG amplifies that daily swing in both directions.
• It changes hands less than the headline leveraged funds, so the spread is worth a look before you place an order.

Full CHAU profile⁠

Full UYG profile⁠